Bangkok: The Government Housing Bank (GHB) has announced a new initiative to aid customers residing in the Thai-Cambodian border area by offering a loan repayment deferral of up to one year. This move, which includes reduced interest rates for home construction and renovation loans, aims to restore the quality of life for those affected by the ongoing unrest in the region.
According to Thai News Agency, Ms. Airin Phanrit, Deputy Spokesperson for the Prime Minister's Office, highlighted the significant impact of the border unrest on local livelihoods and property, leading to this comprehensive relief measure. The GHB's initiative includes loan moratoriums, 0% interest rates, and flexible installment plans designed to alleviate financial burdens for affected customers. These measures encompass all customer groups and focus on helping individuals rebuild their homes and lives.
The initiative includes six specific measures tailored to different levels of impact. Measure 1 offers reduced interest rates for existing customers who have sustained serious injuries or property damage, while Measure 2 extends a 0.01% interest rate for those whose homes are completely destroyed or who have suffered permanent disabilities or death. Measure 3 provides new construction loans with favorable interest rates, and Measure 4 focuses on non-performing loan (NPL) customers with severe damage or disability, offering a 0% interest rate for the first year followed by minimal rates thereafter.
Additionally, Measure 5 and Measure 6 provide debt restructuring plans for NPL customers with severe damage or income disruption, respectively. Both measures offer initial periods of 0% interest, followed by minimal interest rates, ensuring manageable repayments.
Beyond these measures, GHB also offers Repair and Renovate Loans for existing customers wishing to extend or repair their homes, with a maximum loan amount of 300,000 baht per person. These loans feature attractive interest rates and do not require additional mortgage registration at the Land Office.